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    11538 E 7 Mile Rd Detroit, MI 48234

    For Sale
    $349,900

    Prime corner property with high visibility and versatile commercial space.

    Lot size:
    0.24 Acres

    Property Features for 11538 E 7 Mile Rd

    General Information

    Lot size
    0.24 Acres

    Building Details

    Year built
    1978

    Source: Keller Williams Legacy Agent Amer Jaafar

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Corner Retail Property For Sale

    This corner property is located at a busy intersection, offering high visibility. The building is currently configured as a pharmacy and retail shop, serving as a primary pharmacy for the surrounding community. The space, formerly a gas station, is adaptable for various commercial uses. Renovations completed in 2020 included the installation of two new AC units and steel wall upgrades. A metal roof was installed in 2015. The property has a Certificate of Compliance.
    Location Intelligence

    Current Use by Public Records

    Drug stores

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Detroit
    County
    Wayne
    State
    Michigan
    Longitude
    -83.005384
    Latitude
    42.434151

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    FAQs

    What type of property is this?
    Drug store - Prime corner property with high visibility and versatile commercial space.
    Where is this drug store located?
    The property is located at 11538 E 7 Mile Rd Detroit, MI.
    What is the asking price?
    The asking price for this property is $349,900.
    What are key features of this property?
    This property features: - Prime corner location at a busy intersection with unbeatable visibility.; - Currently operating as a pharmacy and retail shop with no nearby competition.; - Versatile space suitable for various commercial uses (formerly a gas station).
    (313) 787-0304
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    Detroit, MI 48234
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    11538 E 7 Mile Rd Detroit, MI 48234
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